Ophthalmic Sutures Market Size, Share, Market Research and Industry Forecast Report, 2026 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Ophthalmic Sutures Market


The ophthalmic sutures market size was valued at USD 326.6 million in 2018 and is projected to register a CAGR of 6.4% during the forecast period. Key factors driving the market are increasing incidence of various eye diseases and vision loss. Visual impairment is a global health concern that has a negative impact on mental and physical health. According to the American Academy of Ophthalmology, approximately 7.32 million people in the U.S. are expected to suffer from primary open-angle glaucoma (POAG) by 2050.

Increasing awareness about eye disorders and increasing incidence of vision problems such as glaucoma, cataract, macular edema, and other neuro-ophthalmic disorders are major driving forces in the market. Glaucoma is a leading cause of irreversible blindness across the globe. Increasing aging population is expected to contribute to the rising burden of glaucoma around the world. According to the American Academy of Ophthalmology, the number of people with glaucoma is expected to reach 111.8 million in 2040, globally.

Technological advancements in ophthalmic surgical devices is expected to boost the market. Development and adoption of new imaging technologies helps surgeon perform procedures in a much better and effective way, making them safer for patients and easier for surgeons. Rise in successful rate of surgeries is likely to increase the adoption to surgical procedures by patients, which will positively impact the demand for ophthalmic sutures in the coming years. Furthermore, several government initiatives and increasing healthcare funding are among factors likely to propel market growth. For instance, in May 2017, the Glaucoma Research Foundation launched the Cure is in Sight program. This campaign has raised USD 15 million till date for glaucoma awareness and research.

Key players in the market are focusing on new product launches, expansions, and mergers and acquisitions for advancing sutures for various ophthalmic surgeries. For instance, in May 2019, Surgical Specialties Corporation launched a new business division, Caliber Ophthalmics. The company, through the launch of the new division, aims to cater to the growing needs of customers across the globe. The new division also plans to open a new manufacturing center in Pennsylvania.

Type Insights of Ophthalmic Sutures Market

Based on type, the market has been segmented into natural and synthetic ophthalmic sutures. The synthetic sutures segment accounted for the largest market share in 2018. The dominance of the segment is majorly attributed to its high usage, which is driven by its ability to degrade by hydrolysis and therefore less inflammation on wound site. Synthetic sutures are composed of polyester, polypropylene, and polyamide, which increases their durability.
The natural sutures segment is also expected to witness considerable growth over the forecast period. These sutures are of different types such as collagen, surgical cotton, surgical silk, and surgical steel. The high growth rate of the segment is primarily attributed to its benefits such as good knot security, ease of handling, and initial tensile strength. However, natural sutures may cause tissue reactions and increase the chance of surgical site infection, which may restrict the growth of the segment.

Application Insights of Ophthalmic Sutures Market

By application, the cataract surgery segment accounted for the largest market share in 2018. This is primarily attributed to increasing prevalence of visual impairment caused by cataract. Cataract surgery technology and techniques have improved significantly over the last decade. At present, cataract surgery is the most frequently performed ophthalmic surgery in many developed countries. According to the American Society of Ophthalmology, approximately 24.4 million Americans aged 40 years and older were affected by cataract in 2015.

Several government and private initiatives are also likely to propel segment growth. The HelpMeSee initiative, for instance, has been working toward eliminating cataract-caused blindness in countries across Africa, Asia, and South America. Through training of surgery specialists and developing advanced technologies and equipment, the U.S.-based nonprofit has partnered with over 300 surgery partners in less than a decade.

The corneal transplant surgery segment is expected to grow at the fastest rate during the forecast period. This is primarily driven by increasing incidence of thinning of the cornea, causing scarring and irregular shape of the cornea. The most common surgical indications of corneal transplant are endothelial corneal dystrophy and keratoconus. Corneal transplantation is an effective treatment for several serious corneal disease and is primarily aimed at restoring corneal transparency. Technological advancements and improvement in ophthalmic surgical techniques have led to an increase in number of corneal transplants.

End-use Insights

Based on end use, the ophthalmic sutures market is segmented into hospitals and ambulatory surgical centers. Ambulatory surgical centers (ASCs) dominated the market in 2018 owing to increasing number of surgeries being performed in these centers. Most ophthalmic surgeries are performed on an outpatient basis and do not require hospital stay. Ophthalmologists in the U.S. perform more than 90% of such surgeries in ambulatory surgery centers, annually. Every year, approximately 3.8 million outpatient cataract surgeries are performed in the U.S.
Hospitals also accounted for a considerable share in 2018. This is primarily attributed to rising incidence of eye disorders such as cataract, glaucoma, and retinitis. Moreover, increasing government funding and rising private sector investments in healthcare are also driving the growth of the segment.

Absorption Capacity Insights

Based on absorption capacity, the market can be segmented into absorbable and non-absorbable ophthalmic sutures. The non-absorbable sutures segment captured the majority market share in 2018 and is expected to retain its lead position over the forecast period. Commonly used non-absorbable sutures may be made of synthetic materials such as polypropylene, nylon, and polyester or natural materials such as silk linen.

Non-absorbable sutures offer mechanical strength for longer durations. These variants are less prone to becoming infected as they lack rough surfaces for things to adhere. Furthermore, these sutures can be permanently implanted into the body and can be removed after few days of surgery to reduce the chances of post-operative surgical infection. However, these sutures have the disadvantage of loosening at the knots owing to lack of grip. This could hamper patient preference.

The absorbable ophthalmic sutures segment is expected to register a CAGR of 6.7% during the forecast period. The high growth rate of the segment is majorly attributed to product benefits such as ability to provide short-term support to the wound until it heals significantly. These sutures undergo degradation and do not lose tensile strength till 60 days. Moreover, it is cost effective as it is dissolves in body after a certain period and does not require additional surgery to be removed.

Regional Insights of Ophthalmic Sutures Market

North America dominated the market in 2018, which can be attributed to increasing number of ophthalmic surgical procedures being performed and advanced healthcare systems and infrastructure in the region. With increasing aging population in U.S., the need for ophthalmic surgery continues to rise. According to WHO statistics, the number of people aged 65 years and older in the country is expected to reach 78 million by 2035, which will have a positive impact on product demand. Moreover, implementation of advanced technologies for the development of surgical products is augmenting the market in the region.

Asia Pacific is projected to be the most lucrative region over the forecast period. Increasing healthcare funding by public and private investors, high prevalence of eye-related disorders, and government initiatives to spread awareness about ophthalmic diseases are major factors aiding market growth. In India, cataract is the principle cause of blindness (62.6%) among people, affecting over 9 million in 2015. The market for ophthalmic sutures in the country is expected to grow at a rapid pace owing to increasing awareness about this condition and rise in the number of cataract surgeries being performed.

Market Share Insights of Ophthalmic Sutures Market

Some of the prominent players in the market are Accutome, Inc.; Assut Medical Sarl; Alcon Inc.; Aurolab; B Braun Melsungen AG; DemeTech Corporation; FCI Ophthalmic Inc.; Medtronic Plc; Rumex International Co.; Surgical Specialties Corp; Teleflex Incorporated; and Unilene. Major players are focusing on innovating surgical sutures and launching new products in the market to expand their business portfolio and strengthen their presence. For instance, in 2019, Ethicon developed a coated VICRYL Plus Antibacterial suture. The product is a synthetic absorbable suture composed of a copolymer containing 10% L-lactide and 90% glycolide.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Ophthalmic Sutures Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global ophthalmic sutures market report on the basis of type, application, absorption capacity, end use, and region:

Type Outlook (Revenue, USD Million, 2019 - 2030)

  
Natural
  
Synthetic

Absorption Capacity Outlook (Revenue, USD Million, 2019 - 2030)

  
Absorbable
  
Non-absorbable

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Corneal transplantation surgery
  
Cataract surgery
  
Vitrectomy surgery
  
Iridectomy surgery
  
Oculoplastic surgery
  
Others

End-use Outlook (Revenue, USD Million, 2019 - 2030)

  
Hospitals
  
Ambulatory surgical centers
  
Others